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Job Title:                     Corporate Finance Manager (CFM)

Reporting to:              CEO

Location:                     Invest TCI Offices – Providenciales

Job Summary:

The Corporate Finance Manager (CFM) is a key member of the Agency team with primary responsibility for ensuring Invest Turks and Caicos has strong internal financial control structure, along with ensuring proper financial reporting, account reconciliation and budgeting.  The CFM works closely with the Manager-Corporate Services to ensure effective internal operations are maintained.

The CFM’s secondary role will be to support the efforts of the Senior VP – Investor Services in attracting new investment to the country by conducting financial due diligence on investment projects, developing and maintaining a financial assessment model for Investor Services Executives and providing advice and support to the team and business clients related to the Micro-Small Enterprises (MSME) Program.

Key Duties and Responsibilities:

  1. Financial accounting and reporting
    1. Ensures that financial accounting systems, including systems for day to day transactions (general ledger, accounts payable, accounts receivable and payroll) cash flow forecasting and management, credit control, and petty cash are accurately and efficiently maintained. Systems should be maintained in accordance with generally accepted accounting principles (GAAP) and/or IFRS.
    2. Ensures that supporting information for all financial transactions is documented, accurately and properly filed and compliant with all financial provisions of the relevant ordinances and statutory requirements.
    3. Ensure costs and revenue are recorded and reported accurately, timely, and completely in accordance with financial assertions;
    4. Ensure that costs and revenue are incurred and managed in accordance with the terms of the approved budget;
    5. Ensure that Invest Turks and Caicos complies with all financial provisions of the relevant ordinances and statutory requirements particularly the Public Procurement Ordinance and the Public Finance Management Ordinance.
    6. Ensure records, transactions, events, activities and other performance indicators accurately, timely and completely in accordance with performance measure assertions, if any.
    7. Ensures the reconciliation of bank and investment accounts monthly, including monthly supplier reconciliations, review of overdue accounts receivables, updating the accrual and prepayment schedules and calculation and recording of depreciation expense.
    8. Ensure that monthly and quarterly financial reports for management, the Board and TCIG are accurately and timely prepared in accordance with applicable standards.
    9. Make recommendations to the management and the Board on potential areas to reduce expenditure or increase revenue where over run or short falls are noted, respectively.
    10. Ensures the completion and maintenance of the Fixed Assets Register.

 

  1. Budget Preparation
    1. Collaborate with the CSM to support the preparation of the annual budget using a “Zero Based Budget” approach, in consultation with the CEO, Board of Directors and Invest TCI team.
    2. Ensure alignment of the KPI’s with available resources

 

  1. Project Analysis
  2. Develop, implement and maintain system for conducting proper financial due diligence on domestic and foreign investors.
  3. Develop/implement a financial model for investment projects that will allow for rapid review of projects and conduct of sensitivity analysis to detect project risk.
  4. Develop templates that can be used by Investor Services Executives (ISE) to compare project costs to socio-economic benefits.
  5. Review financial information contained in complex project proposals assigned by the SVP and comment on the financial viability of the investment as presented by the proponents.

 

  1. Micro, Small & Medium Enterprises
    1. Monitor compliance of grant agreements with the Center for Entrepreneurial Development (CED) to provide Government funding towards the work of the not for profit entity.
    2. Provide oversight on financial analysis of MSME Business Plans.

 

  1. Other Related Business
    1. Undertake any related activities required by the Agency as requested by the CEO, SVP.

 

PERSONAL SPECIFICATIONS

Education and qualifications:

University degree or equivalent in Accounting, Finance, or equivalent

 

Chartered Accountant, Certified General Accountant, or Certified Management Accountant designation is an asset.

Experience and Knowledge:

  1. Detailed knowledge of generally accepted accounting and internal control principles.
  2. Strong analytical, problem solving and decision-making skills to evaluate alternatives and provide recommendations on business issues.
  3. Minimum five years senior accounting experience in a public or private company environment.
  4. Significant experience in conducting due diligence and financial analysis on development projects and in supporting entrepreneurs.
  5. Proficiency in the use of various computer programs, including: Accounting (Simply Accounting),Word processing (MS Office), Spreadsheets MS Office), Project Management (Visio)

 

Skills:

  1. Strong track record of competency in current and previous employment.
  2. Excellent Leadership Qualities
  3. Strong Writing and presentational skills.
  4. Excellent Communication and interpersonal skills.
  5. Excellent skills in MS Word, Excel, PowerPoint and Outlook
  6. Ability to work in a team environment and manage time effectively
  7. Commercial awareness.
  8. Ability to maintain confidentiality

Personal Qualities:

  1. Open and engaging demeanor.
  2. Able to generate and share ideas.
  3. Hands-on approach.
  4. Willing to take personal responsibility
  5. Able to win trust and personal credibility
  6. Persistence and personal resilience.
  7. Willingness to personally deliver quality to business clients.
  8. Willingness to understand different cultures, lifestyles, and associated points of view.
  9. Willingness to understand the values associated with small communities.

 

Other Requirements:

  1. Fluent English
  2. Willingness and ability to travel by air, land, and sea.

 

Salary and Allowances:

Negotiable in a range from $60,000 to $70,000 depending on education and experience.

 

 

Deadline Date for Applications

The deadline date for applications is August 27, 2021, Turks, and Caicos time.

 

Application Procedure

Interested persons should submit a resume, along with their contact information, cover letter, two letters of reference (one preferably from a former employer), copies of educational certificates, a Police Certificate, and a copy of the Passport photo page.

 

Applications can be submitted by courier or delivered directly to Invest Turks and Caicos at Unit 2D, Courtyard Plaza, Providenciales, Turks and Caicos Islands, prior to the deadline. The application should be addressed to The CEO (Acting) – Invest Turks and Caicos and envelopes should have the words “Corporate Finance Manager” clearly marked on the front.

Alternatively, applications can be emailed to dastwood@investturksandcaicos.tc .The subject line in the email should read “Corporate Finance Manager

 

We thank all applicants for their interest. However, only persons selected for an interview will be

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Bahamas News

Prime Minister Hon. Philip Davis pledges to govern in the interests of all Bahamians

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#TheBahamas, September 19, 2021 – During his ceremonial swearing-in today as the nation’s fifth Prime Minister, Hon. Philip Davis pledged to govern in the interests of all Bahamians and to consult widely with the Bahamian people.

The best way to make progress as a nation is to bring people together, said Prime Minister Davis, who was presented with his instruments of Office in ceremonies held at the Baha Mar Convention Centre, on Saturday 18 September 2021.

Prime Minister Davis was officially sworn in as Prime Minister of the Commonwealth of The Bahamas on Friday 17 September 2021 at the Office of the Governor General.

“We will uphold the constitution and the rule of law, and ensure that everyone is treated fairly, so that it’s not one rule for one set of people, and another for another set of people,” said the Prime Minister.

“There is much work to be done; but I know that by working together we can succeed and build the kind of prosperous, independent Bahamas that our founding fathers dreamed for us.”

Prime Minister Davis said that while there are big challenges ahead for The Bahamas, his team has the right vision and policies to take the country forward.

The Prime Minister said the new administration is coming into office at a time when the Bahamian people are hurting as never before.

The country faces many crises due to the COVID-19 pandemic, an economy in decline and deeply concerning challenges in education, said Prime Minister Davis.

If everyone works together towards a common purpose, in the common interest and for the common good, great things are possible for The Bahamas and its people, said the Prime Minister.

But no government can do great things on its own, Prime Minister Davis added.

“I am sure that my government can only succeed if we partner with the Bahamian people,” said the Prime Minister.
“We are going to listen, we are going to consult widely and we are going to bring people together.”

_
18 September 2021
Office of the Prime Minister
Commonwealth of The Bahamas
Contact: opmcommunications@bahamas.gov.bs
Website: opm.gov.bs

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Caribbean News

North Caicos man beheaded in what could be TCIs most bizarre murder case yet

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#TurksandCaicos, September 18, 2021 – Explosive talk show host Courtney Misick lost his brother last weekend in a bizarre killing which raised alarm and left residents flabbergasted at the extreme violence, which pointed to a heinous killer being at large in North Caicos.

While police have now made two arrests; giving one suspect bail and holding another on suspicion in the gruesome killing, the pastor, farmer and former election candidate publically questioned the time it took for investigators to arrive at the scene.

He said, in a string of Facebook posts, that it was some six hours before police got there.

Royal TCI Police confirmed the body of the male found in a home in Kew North Caicos; that they got the call at 5:45pm.

“The Police can confirm that the body of a man was found inside a house in Kew, North Caicos and that the body was decapitated. Although formal identification procedures have not yet taken place, the body is believed to be that of 57-year-old old Isaac Missick. The Police are in contact with the next of kin at this difficult time,” informed a Thursday press release.

Rev Misick, at 11:30pm on Saturday posted that investigators from Provo had finally arrived; another team got in on Sunday morning.

Family was disappointed with North Caicos police manpower “wasting hours guarding the crime scene” instead of “looking for Mack-B’s killer.”

Isaac “Mack-B” Missick was beheaded and worst of all, his head could not be found at the scene of the crime.  People were dumbfounded by the monstrous nature of the killing and the family was activated to mount their own hunt for the body part.

There was no success, however, for the family and friends of Mack-B.  Relatives spent the day on Wednesday in Kew battling heat, the blazing sun and swarming mosquitoes in an effort to find the head.

Mack-B’s sister, niece, cousins and eldest son travelled to North from Providenciales determined to give it a try, said Orville Selver, a cousin of the deceased who also described the scope of the search: West of the victim’s house, in the bush from Hall town, to Henfield town, near the house of Mack Bs mother, who died in May this year; on Forbes road and near all the old wells.

The search party which began at 9am fanned out in two groups;” some went on the north side and others went the south side into the deep woods,” he said.

Meanwhile police were questioning two suspects in the case, now ruled a murder.  It is the TCI’s sixth homicide for 2021.

“Today, the Police made an application to the court to seek an extension to the time Officers can keep the arrested man in custody. The court case was adjourned until September 23rd, 2021, during which time the man will be held in police custody. The man arrested on Suspicion of Murder on Sunday, September 12th, 2021, has been released on police bail pending further investigation.”

It will most likely go down as the most gruesome killing in Turks and Caicos history; the beheading of this beloved North Caicos construction worker on Friday or Saturday at his home in Kew.

Our interview of his brother, Rev Missick, unearthed that Mack-B said he had to go home, he did so but never returned to work on Friday September 10.  Upon being missed by some relatives, his cousin set out to check on him and the discovery was gut-wrenching.

Said to be a gory scene as the man, lay on the ground with no head.  While relatives believed the head was at the scene, they later learned that it was missing.

From Police: “This is a very distressing and complex murder that will take time to investigate. However, many specialist Officers are involved in this case, and they are doing everything possible to fully understand the events leading up to this horrific attack. North Caicos is a very close community, and the Police seek their assistance in providing vital information to progress the investigation.”

Isaac Missick, leaves behind a wife and two sons.

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Bahamas News

PRESS RELEASE: Prime Minister Minnis Thanks Bahamians for the Last Four Years

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#TheBahamas, September 18, 2021 – Free National Movement (FNM) Party Leader, Hubert A. Minnis thanked Bahamians for the last four years in tonight’s concession speech:

“Tonight I spoke with Leader of the Progressive Liberal Party Philip Davis and offered my congratulations to him and his party on their victory at the polls.  I offered him my best wishes as his Government now faces the continued fight against COVID-19, and the restoration of our economy.

I would like to thank the tens of thousands of Bahamians from across The Bahamas who voted for Free National Movement candidates.  I also congratulate the FNM candidates who won seats in the House of Assembly.  I am in that number, and again my gratitude goes out to the people of Killarney for making me their representative for the fourth consecutive time.

I will lead the Free National Movement into the House as the leader of Her Majesty’s Loyal Opposition.  The Bahamas has a proud democratic tradition.  The people decide who serves as government.  Our party presented its vision for the future to Bahamians from the northern islands of Grand Bahama and Abaco, all the way to the southern islands of MICAL.

The people determined that they preferred the Progressive Liberal Party.  My party and I accept that result.  We are proud of our record the past four-plus years.

During our term we faced the most difficult times in Bahamian history.  In September 2019, Abaco, the Abaco Cays and Grand Bahama were struck by the strongest storm to hit The Bahamas.  Hurricane Dorian was one of the strongest storms recorded on our planet.  It caused generational destruction to our northern islands.  Six months later, we were in the COVID-19 pandemic.

Throughout each crisis my Government worked hard to assist the Bahamian people.  On the northern islands we have had to rebuild roads, water systems, schools, docks, bridges and other critical infrastructure.

In the pandemic, we provided tens of millions of dollars per month in food and unemployment benefits to citizens, along with tax credits to businesses.  We fought hard to secure more than half a million doses of three of the best vaccines in the world.

The FNM has a proud legacy.  We have governed The Bahamas over four terms.  Our philosophy is to use the resources of government to provide opportunity to those who have historically been without.  That is why we invested in free preschool, providing early education to thousands of children. That is why we invested in free tertiary education at the University of The Bahamas and BTVI.

That is why we created the Over-the-Hill initiative to benefit people in grassroots communities with tax concessions and development assistance.  That is why we invested record amounts in Family Island infrastructure.  That is why we created the Small Business Development Centre, extending millions of dollars to help Bahamians realize their dreams.

Our belief in the Bahamian people was also evidenced in the manifesto we ran on in this election.  We pledged a Universal School Meals Program, expanded access to afterschool programs, $250 million to Bahamian small businesses over five years, expanded access to Crown Land, support for the arts and agriculture and fisheries, along with many more policies for the people.

We did not win this time.   But I say to the next generation of FNMs that you should stay firm to this party’s founding ideals.  Always put the people first, and be honest in government.

The people have asked us to be the opposition.  We will ensure the people’s resources are spent properly. We will ensure there is accountability.  We will oppose when necessary. We will agree when the Government’s plans are in the best interests of the people.

I thank my wife Patricia and my family for supporting me during this term, and throughout my life.  I also thank the officers, members and supporters of the Free National Movement for their assistance and encouragement during my time as leader.

And to the Bahamian people, I say a warm and heartfelt thank you for my time being your Prime Minister.  You are a strong, hardworking and resilient people.  Hurricane Dorian did not break you. The pandemic has not broken you.

You trust in the God who has brought us this far.  Trust that He will bring us further to brighter times.  Again, thank you. And may God bless the Commonwealth of The Bahamas.

 

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